Tuesday, 16 September 2014
Last updated 12 hours ago
Feb 1 2013 | 11:56am ET
Porsche Automobil Holding and the hedge funds suing it for market-manipulation have at last agreed on a venue.
The luxury carmaker said yesterday that the matter will be heard on its home turf, in a German court. Its hedge fund antagonists, including Elliott Associates, Glenview Capital Partners, Greenlight Capital and Viking Global Equities, have agreed not to appeal the case's dismissal in New York; in return, Porsche said it would not seek a dismissal on statute-of-limitations claims in Germany if a case is filed within 90 days.
The deal comes just weeks after a New York State appeals court dismissed the case, which accuses Porsche of manipulating the market in Volkswagen shares, secretly acquiring a majority stake before announcing plans to acquire VW; a federal court did the same in 2011. The U.S. courts ruled that they had no jurisdiction.
Porsche said it remains confident that the claims have no merit.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?